PUNE, Feb 4: Investors have been urged to follow a cautious approach before investing in deposit schemes of plantation companies and resorts. Until operating guidelines are set up for the mobilisation of public deposits by these companies, depositors have been advised not to invest in such high-risk schemes.At a meeting organised by the Investors Forum here, V Anaskar, vice chairman, Vidya Co-operative Bank, said that most of these schemes were finanially unviable due to long gestation periods and absence of plans for generating profits during the course of the project. Aimed at wooing the small investor, recent advertisements by plantation companies had promised exceptionally high returns without any mention of the project details, he added.Highlighting the pitfalls of investment in these schemes, Anaskar cautioned that the companies' brochures were usually silent about the backgrounds.
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